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Fish & Seafood - Chile

Chile
  • Revenue in the Fish & Seafood market amounts to US$3.51bn in 2024. The market is expected to grow annually by 7.11% (CAGR 2024-2029).
  • In global comparison, most revenue is generated China (US$97bn in 2024).
  • In relation to total population figures, per person revenues of US$178.30 are generated in 2024.
  • In the Fish & Seafood market, volume is expected to amount to 204.80m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 5.8% in 2025.0.
  • The average volume per person in the Fish & Seafood market is expected to amount to 8.7kg in 2024.

Definition:

The Fish & Seafood market covers products made from edible fish and crustaceans, mollusks, and other seafood. These products have been farmed or harvested from freshwater or the ocean and are bought and consumed for nutrient-based purposes.

Structure:

The market consists of 3 different submarkets:

  • The Fresh Fish market covers all types of edible fish that are fresh, chilled, or frozen, and have been farmed or harvested from freshwater or the ocean.
  • The Fresh Seafood market covers all types of crustaceans and mollusks that are fresh, chilled, or frozen and have been farmed or harvested.
  • The Processed Fish & Seafood market covers all types of fish and seafood that have been dried, salted, brined, canned, or smoked.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Fresh and frozen fish((whole or part of, such as cuts, fillets)
  • Fresh and frozen seafood
  • Processed fish and seafood

Out-Of-Scope

  • Fish-based ready-to-eat meals
  • Seaweed and other aquatic plants
  • Caviar and prepared and preserved shark fins
  • Out-of-home consumption
Fish & Seafood: market data & analysis - Cover

Market Insights report

Fish & Seafood: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Demographics

    Most recent update: Mar 2024

    Sources: Statista Market Insights, Statista Consumer Insights Global

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Fish & Seafood market in Chile is experiencing minimal growth, influenced by factors such as changing consumer preferences, government regulations, and market saturation. Despite these challenges, the market is expected to continue growing due to the increasing demand for healthy and sustainable food options. The sub-markets of Fresh Fish, Fresh Seafood, and Processed Fish & Seafood all play a role in shaping the overall market.

    Customer preferences:
    Consumers in Chile are increasingly seeking sustainable and environmentally-friendly options in their seafood purchases. This trend is driven by the growing awareness of the impact of overfishing and the need to preserve marine life. As a result, there is a rising demand for certified sustainable seafood products and a preference for locally sourced and organic options. Additionally, there is a growing interest in alternative seafood proteins such as seaweed and plant-based substitutes, reflecting a shift towards more plant-based diets in the country.

    Trends in the market:
    In Chile, the Fish & Seafood Market within The Food market is seeing a trend towards sustainable and responsible sourcing practices. This includes certifications such as the Marine Stewardship Council, which guarantees that seafood has been caught or farmed in a way that minimizes environmental impact. This trend is significant as consumers are becoming more conscious of their purchasing choices and are willing to pay a premium for ethically-sourced products. This has implications for industry stakeholders, who must adapt their practices to meet consumer demand and maintain competitiveness in the market.

    Local special circumstances:
    In Chile, the Fish & Seafood market is heavily influenced by its long coastline and strong fishing industry. The country's unique geography allows for a diverse range of seafood products, making it a major exporter to international markets. Additionally, Chile's strict regulations on sustainable fishing practices have fostered a reputation for high-quality and environmentally-friendly seafood. This has led to a strong demand for Chilean seafood in global markets, driving the growth of the Fish & Seafood market within The Food market.

    Underlying macroeconomic factors:
    The Fish & Seafood Market in Chile is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's stable economic growth, low inflation rates, and favorable business environment make it an attractive market for fish and seafood products. Furthermore, Chile's strong investments in aquaculture and sustainable fishing practices have resulted in increased production and exports, driving the growth of the market. Additionally, the country's growing demand for healthy and sustainable food options, along with the rise in per capita income, are also contributing to the market's growth.

    Methodology

    Data coverage:

    The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

    Modeling approach:

    Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

    Additional notes:

    The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

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    Fish & Seafood: market data & analysis - BackgroundFish & Seafood: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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